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According to Chainnews, crypto credit card company Crypto.com will burn $70 billion CRO prior to the launch of CRO Chain mainnet. In detail, $59.6 billion CRO will be burned today, February 22, and $10.4 CRO locked in the contracts will be burned monthly after being unlocked. Among the remaining $5.9 billion CRO, $5 billion of them will be distributed to verification nodes and trustees for block rewards, and the rest $900 million CRO will be distributed to Particle B for the development of CRO chain ecosystem. Crypto.com also stated that the move will make the circulating supply increase to over 80% from the current 23%.
Crypto.com To Burn $70 Bln CRO
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